
Credit Suisse Nazi Ties 'Ran Deeper Than Thought': Media Report
+ Get the most important Swiss news directly in your inbox
A fresh look at Credit Suisse archives has revealed evidence of previously unknown Nazi accounts, including one account linked to the notorious German SS elite army unit that committed numerous atrocities during WWII.
+Read more about the Holocaust assets controversy
Former United States prosecutor Neil Barofsky is sifting through 3,600 boxes of files that were not seen by two investigatory panels in the 1990s, the newspaper reports.
Credit Suisse appointed Barofsky as an independent ombudsman to probe Nazi-era links in 2021, but later removed him from the position.
Barofsky was reinstated in 2023 after Credit Suisse was acquired by rival UBS in an emergency takeover earlier that year. WSJ says it has seen a letter written by Barofsky in December 2024 to the US Senate.
More More Credit Suisse reinstates independent overseer for Nazi-account probeThis content was published on Dec 5, 2023 Credit Suisse reinstated Neil Barofsky as an independent ombudsperson to oversee the bank's review into its history of servicing Nazi-linked accounts.
Read more: Credit Suisse reinstates independent overseer for Nazi-account prob UBS cooperates with probe“The investigation has identified scores of individuals and legal entities connected to Nazi atrocities whose relationships with Credit Suisse had either been previously identified, or for which the relationship had been partially unidentified but the full nature of the bank's involvement has not yet been reported publicly,” the letter states.
The letter appears to vindicate previous US Senate allegations that Credit Suisse had failed to fully cooperate with investigations looking into the matter.
UBS told WSJ that it is“committed to contributing to a fulsome accounting of Nazi-linked legacy accounts held at predecessor banks of Credit Suisse”.
In 1998, Credit Suisse and UBS agreed to pay $1.25 billion (CHF1.14 billion) to victims of the Holocaust or their heirs as part of a settlement with the World Jewish Congress, which had filed a lawsuit in the US.
Adapted from a Wall Street Journal article by mga.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment